Crony capitalism: Malaysia is no. 2 in the world!

Source: The Economist, 7 May 2016

Now ain’t that something! This will go nicely with our fifth place ranking in the list of countries with the most illicit financial flows (Malaysia chalked up total flows of US$419bn in the period 2004-2013!) and our fame from 1MDB, thank you very much. 

What about Thailand, Indonesia, the Philippines and Singapore? No fight. We are the undisputed Asean – and Asian – champions!

But with the property marketing ‘softening’* and oil and commodity prices having tanked, life is getting a tad tougher for our dear (fat) cronies. See this Economist report.

Quick, what can we do to make sure the cronies don’t suffer as much as ordinary people? Maybe a few more plum, juicy mega contracts?

* I love this word ‘softening’ – adds a positive spin to a worrying situation for developers and property speculators. Even leaves you with a warm, fuzzy glow. As you may know, big developers and property speculators are highly allergic/sensitive to even the mildest bad news in the media about their sector. ‘Softening’ is about all they can stomach. 

Please help to support this blog if you can.

Read the commenting guidlelines for this blog.
Notify of

Most Voted
Newest Oldest
Inline Feedbacks
View all comments

“Try to pay a backhander to an official in Singapore and you are likely to get arrested. But the city state scores poorly because of its role as an entrepot for racier neighbours, and its property and banking clans.”

Probably more intertwined with Malaysia than some would like.


Since Malaysia is 12.5% and Singapore is around 11%, I suspect it’s the same property and banking clans in Malaysia and Singapore. All the tycoons here keep their money out in Singapore I suspect.


Malaysia’s 1MDB Is Ranked 3rd World Worst Corruption Scandals In Year 2015 By Foreign Policy


NR is aiming to be no 1 by the time he leaves office! All he needs to do is to swear before the Koran every time he is caught red handed.


rukun negara no 1 and religion of the country.


This explain widening genie coefficient index as well, and those in dire straits short of cash resort to crimes ( inspired by nation looting?) to either satisfy the needs (food to survive) or wants (fancy cars and condos) and hence we now see more ATM robberies for example.


The crime rate in the country increased by 4.6% in the first four months of the year.


Can we bribe Russia to give up its No. 1 place to us?

gk ong

Marcos looted the nation’s wealth and the Philippines never recover economically after that.

1MDB will lead Malaysia to the same path, soon our female graduates may be exported to the Middle East kingdoms to work as maids as they meet the religious requirements.

Davis Tan

Hong Kong is no.1 why suddenly not appears in the ranking?


1MDB has made Malaysia famous for the wrong reason.
Yet most Sarawakians are infatuated by the Adenan Fever.
Remember, Adenan = Najib = 1MDB = Corruption.
So easy to note the linkages if you have a clear mind.


My Sarawak friends voting tomorrow, remember voting for Adenan = voting for Rosie’s extravagance !


BN extravagance is clearly seen when the husband could accompany his minister wife on official helicopter trip (Umno must clarify who foot the bill) in the Sarawak election campaign.


Adenan’s way is inherited from past misdeeds like using public funded helicopters to reach out to trials while democratically bar opposition from entering Sarawak although they use tedious long boat trips instead.


Bolehland also executes multi-level cronied marketing with various proxies from bottom up.

Latest a 33 year old Singapore banker has been detained for 1MDB related investigation; while other countries are also going after the runners.

Someone ought to be shivering and sought asylum elsewhere ?


You think so Ravi he is shivering? He is carrying his luxurious life as usual, all the unsolved murders cant touch him and so is the missing billions…